Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement applauding House passage of H.J. Res. 30, a Resolution of Disapproval to reverse the U.S. Department of the Treasury’s decision to lift sanctions on companies owned by Russian oligarch Oleg Deripaska.

“Today the House overwhelmingly passed H.J. Res. 30, a Resolution of Disapproval which reverses Treasury’s decision to lift sanctions on three companies owned by Oleg Deripaska. Deripaska is a Russian oligarch and a close confidant of Vladimir Putin. He is personally sanctioned by Treasury for being a criminal figure as well as a self-declared proxy of the Russian government. He also has a history with Paul Manafort, the former Trump campaign chairman who has been convicted of serious financial crimes uncovered through Special Counsel Mueller’s investigation into Russian interference in the last presidential election.

“In Treasury’s sanctions-lifting agreement, Deripaska would retain ownership of a significant portion of the companies. His relinquished shares would be distributed to people and entities that he is likely to have influence over. What’s more, Treasury’s proposed actions directly benefit him by paying down his debt with VTB Bank, which is itself sanctioned. Further, we’ve learned that the new Chairman of Deripaska’s company, handpicked by Treasury, is himself a critic of our Russia sanctions and defender of Putin. If we are to delist these companies, Deripaska should not be allowed to have any influence at all.

“Treasury’s actions must not be allowed to stand. The House has spoken in passing this Resolution of Disapproval. Now it falls to the Senate to pass this Resolution immediately.”

H.J. Res. 30 passed by a vote of 362-53.

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